Victory Capital Management Inc. Sells 25,115 Shares of ArcBest Co. (NASDAQ:ARCB)

Victory Capital Management Inc. lowered its stake in ArcBest Co. (NASDAQ:ARCBFree Report) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 359,539 shares of the transportation company’s stock after selling 25,115 shares during the quarter. Victory Capital Management Inc.’s holdings in ArcBest were worth $36,547,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Allworth Financial LP grew its stake in shares of ArcBest by 15,450.0% in the 3rd quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock valued at $32,000 after buying an additional 309 shares during the period. Point72 Asset Management L.P. bought a new position in shares of ArcBest in the 2nd quarter worth $37,000. Ancora Advisors LLC bought a new position in shares of ArcBest in the 1st quarter worth $56,000. Point72 Hong Kong Ltd bought a new position in shares of ArcBest in the 2nd quarter worth $58,000. Finally, West Tower Group LLC acquired a new stake in shares of ArcBest in the 2nd quarter worth about $59,000. Institutional investors own 95.78% of the company’s stock.

ArcBest Stock Performance

Shares of ArcBest stock opened at $122.40 on Wednesday. The business’s fifty day simple moving average is $117.80 and its 200 day simple moving average is $110.46. The firm has a market capitalization of $2.90 billion, a P/E ratio of 16.59 and a beta of 1.44. ArcBest Co. has a 12 month low of $78.37 and a 12 month high of $125.48. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.14.

Insider Buying and Selling

In related news, Director Janice E. Stipp sold 3,390 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $122.42, for a total transaction of $415,003.80. Following the completion of the sale, the director now owns 17,710 shares in the company, valued at $2,168,058.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.65% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Bank of America lowered their target price on shares of ArcBest from $110.00 to $108.00 and set an “underperform” rating on the stock in a report on Monday, October 9th. UBS Group upped their target price on shares of ArcBest from $110.00 to $119.00 and gave the stock a “neutral” rating in a report on Thursday, November 2nd. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Citigroup decreased their price target on ArcBest from $137.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, October 4th. Finally, Deutsche Bank Aktiengesellschaft began coverage on ArcBest in a report on Monday. They set a “buy” rating and a $148.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $128.73.

Read Our Latest Stock Analysis on ArcBest

About ArcBest

(Free Report)

ArcBest Corporation provides freight transportation and integrated logistics services. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

See Also

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Institutional Ownership by Quarter for ArcBest (NASDAQ:ARCB)

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